NEW YORK-- Hess Corp. reported third-quarter 2010 net income of $1.154 billion, with $341 million in the third quarter 2009. The results include after-tax income of $725 million from items affecting comparability, including an after-tax gain of $1.072 billion relating to an asset exchange and an after-tax charge of $347 million relating to an asset impairment.
Marketing and refining generated a loss of $38 million in the third quarter of 2010 compared with income of $38 million in the same period of 2009. Refining operations incurred losses of $50 million compared with $3 [image-nocss] million in the third quarter a year ago as a result of lower refining margins. Marketing earnings were $40 million, an increase of $5 million from the third quarter of 2009. Oil and gas production was 413,000 barrels per day, compared with 420,000 in the third quarter 2009.
Exploration and production earnings were $1.277 billion in the third quarter of 2010 up from $397 million in the third quarter of 2009. And net cash provided by operating activities was $1.246 billion, compared with $534 million in the third-quarter 2009.
Also, Hess has announced the newest addition to its line of toy trucks: The 2010 Hess Toy Truck and Jet. This marks the first time in the collection's 46-year history that a jet aircraft has been part of a Hess Toy Truck set.
It will be available on November 12 at participating Hess and Hess Express retail stores retailing for $25.99 plus tax, Energizer batteries included.
With more sounds than ever and the first use of motion-activated sound in Hess Toy Truck history, the 2010 Hess Toy Truck and Jet has chrome detailing, the 14-wheeler tractor trailer features a flatbed trailer with hydraulic lift and runway lights that doubles as a launch pad for the accompanying high-powered jet.
The Hess Toy Truck has been a holiday tradition since 1964, and is one of the longest running toy brands on the market. As in past years, the truck will be sold exclusively at Hess retail stores in 16 East Coast states, while supplies last. For a complete list of Hess Toy Trucks through the years, click here.Hess, with headquarters in New York, is a leading global independent energy company engaged in the exploration for and production of crude oil and natural gas, as well as in refining and in marketing refined petroleum products, natural gas and electricity.
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